Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1887-12-10
- HE Congress Qfme UnRed States!


|
10 me congress 0fho UHitfd States.
| You are confronted at the threshold Of yorr
| legislative duties with n condition Il: The
National finances which tmDrrhtiyelv demands
| immediate md careful consideration The
| amount OF mpntg annually cxacted throuph thn
| operation Of present laws from thc induetrice
and necessities of the people larpelv exceeds thc
| sum necessary to meet the nv.
| penscs of the government. When we
| consider that the theory OF our
institutions guarantees 10 every citizen the fun
| enjoyment of the fruits of his industry and en-
| terprisC, With only such deduction as may be
his share towards the careful and economical
maintenance Of the government which protects =
him. 1t is plain that the exaction of more than
this is Indispensable cxtortion and culpablo
betrayal Of American fairness and Justice. This
wrong inflicted upon those who bear the burden
OF National taxation, like other wrongs. multi
plies a brood of evil consequences.
The public treasury which should only exist
ms n conduit convcving tho naon,a,s triE,,, 10
ifs legitimate obiocts of cynonditpres rococ,es
n honrding ulace for ,,orer noodloa si,. .,,i,t
drawn from troao and tho ,,oo,,,o,e ,,e,, n,,,s
crippltpg our National aror,,ice ere,c,d d,,, am,
corntrv's drvolnn,,cr, ,,royo,, ,ir, ;,,...,.r
I'm productivr entprpl,ce ,braota,,in,, ,,,,,oi,l
disturbnnrC and inviting ecba,nas of ,,.tlir
n,u,dor This conditinn Of ovr ,rons,,n,. is
not aItopcther nov, cnd II nas mora ,hon
opce orIotc hnon euln,itte1 IN tho ,oo,,lo,s or,
rpsontotivae il, mo f,,,,,rasy ,yt, il,,,, ,,, m
r,v a rcrodv Ana vol tbo sjtuo,io,, s,in o,r
Times. win oqorgvatad inciaants ,norn mon
oyer nrnsuoirn gparcio, c,rvp,.i,r ana r,,ln.
srraod aisns.or II win not do IN ro,,Ioc, ,his
sitrntion horouse IFS daroors orc nnt now, vol
pahlv ;,nr,inent mud ,,,,,,ront Thor ol;s, roao
ihc less crrtpin,r and avai tho nnrorosco,' and
uneypectcd oecosion yben sndlenIv tbey ,cilI
he procinitatoJ rronns
On tbra6th do,. of Tuno tsss tho o,,coss ,s ,,,,
e,urs oycr nuhIic evnor.iitprns ~, co,r,,I,r,,
with thc animal requirement os tho sinlinr fnnd
oct wos In s5q M, gi, dnr,,, tI,o ,oar on,,oJ
.Tune tssn suoh oxrass anornted "a go ,o,
XXX ~. ond drrirg the year or1od ,n,o On
1SS7, If reached the sum oi s555iTEN54
The animal contributions "a tho sinking furd
durino the tbroe vn,rs obo,e sncciro1 or,onnt,
in,, in tho agr,,e,,,tn TO e3o5s9,0 al anI do
euctod from tho surplus as stated. we're maze
hyCalling in for that purpose outstanding thrca
per cent bonds bv the Government. During
the six months prior to June 30, 1857, the sur.
plus revenue had grown so large by repeated nc.
cumulations an it was feared the withdrawal
Of This great sum needed by the people would
SO AFFECT the business of the country that
the sum Of s,ns6l tn0 Of such surplus WIS
appllod to The pnymeut OF the principal and in.
forest of the three per cent. bonds still out.
standing and which were then pavabc at the
option of the Government. Tbeprcc uious con.
dition of financial affairs among The people
still needing r,liof immediately after the altb
dny Of June. ISS1. the Reminder OF the three
ner cent bonds then outstanding amount
nj sts 81, jol wore called in and onplicd +, tho
snl;in, fund contribution for the current fiscal
vcor
Notwithstanding these onerations of the
rrensurv Dcnortmrnt rrrrpsentations of dis.
tross in business oircles rot onlv continued. bnt
Increased and absolute peril seemed at hand,
In tnaso rircu,n.t,pcas the contribution IN the
sinking fund for the current fiscal wear was at
once comnlet,d hv the cypcnditure of
S=7.GSi2S3s5 in the purcbasc of goy.
ernmcnt bonds not vet due. bearing four
and four and n half ncr cent interest
the premium maid thereon AVERAGING about
twenty four per cent for The former. and eight
per cent for the LATTER In addition TO this the
interest accruiur during the current wear upon
the outstanding bonded Indebtedness of the
Government was to some extent anticipated
and banks selected AS dcpositories Of public
money were permitted TO somewhat increase
their deposits.
While the expedents thus employed to re.
lease TO the people the money lying idle in the
treasury, served to avert immediate danger
our surplus revenues have continued TO accu
mulatc. the excess for the present year amount
inc on the first day of December to S55.25S. 70l-
~. and estimated to reach the sum OF $4,000
90 on the ;Nth of June next. at which date it is
expected that this sum. added to the prior ac
cumula,lons, will swell the surplus in the treas
ury to SllO.m00Do There seems to be no assur
gnco that. with such u withdrawal from us of
the peoples circulating medium, our business
community may not, in the near
future be subjected TO the same distress which
was quite laicly produced from the same cause,
and while the functions of our National Treas
ury should be few ana simple, and whie It's pest
condition would be reached believe, by us
entire disconnection win private business IN
tereSts, yet When, by "A perNtrslch ol lls pur-
poses, 1t idly holds money useiessiS subtrae'ed
iTom the channels OF trade' there seems 10 ne
reason for the claim mat some legitimate
means should he devised by lhe noVerhrhoh' 10
restore IN an emergency without waste OF cS-
travagancc, such money to lts place among the
people.
II such an emergency arises there no" EXISTS
no clear ana uhdoubted Executive power OIL tc'
lief Heretofore the redemption OF lhree per
cent. bonds, which were payable at the opuohoi
the Government has afforded means Tor lho
disbursement OF the excess oil our revenues pul
these bonds have all been retlreu' ana 'nere are
no bonds outstanding the payment OF WIlch
we have the right to INSIST upon Iho con'r'ou'
tion to the SINKING tuhd Whleh FURNISHES 'no W,
casion for expenditure III Inc purchase on po"us
mas nceh aicauN hiauo ~, WV 'uiiNu' ''''' ~
that there is no outlet IN mat dlreeuoh'
In the present state oil legisatioh 'he orls
pretense of any existing executive power TO
restore, at this time, any part OF our surplus
revenues 10 the people by ITS eNpend'turo' con.
sists in the supposition that the secretary OF
the Treasury
MAY ENTER THE MARKET
and purchase ponds o' the Government not yet